DEA classifies novel cannabinoids Delta-8 and -9 THCO as controlled substances
Marijuana Moment reports that, as Delta-8 and -9 THCO do not meet the federal definition of legal hemp, the DEA has now confirmed they are considered illegal controlled substances.
In a response letter to Attorney Rod Kight, the DEA stated that as the cannabinoids “do not occur naturally in the cannabis plant and can only be obtained synthetically” they do not fall under the definition of hemp.
However, the publication notes that the DEA has also indicated that delta-8 THC products are not controlled substances as long as they’re extracted from the natural plant, not synthesized.
Tilray Vs. Canopy Growth: which cannabis stock is the better buy?
Writing for Seeking Alpha, Leo Emasuen explores Tilray versus Canopy Growth stocks – highlighting that both represent two sides of the “great cannabis dream”.
Noting that both companies are well underway with efforts to reduce costs and bring core operations into sustained profitability, the publication highlights that Tilray has taken the lead in this respect, reporting annualized cash cost-savings of $119.6 million since the closing of its merger with Aphria.
“I’m neutral on both, but Tilray looks like the better buy here. Where the cannabis market is heading forms the core part of the conversation around returns this year. With no clear momentum on the federal legalization of cannabis sales in the US, we could see both stocks continue to trade down,” writes Emasuen.
CANNABIS IN EUROPE
Legalizing cannabis: Germany first, Europe next?
The EU Observer asks “If Germany follows through with promised full legalization of cannabis in 2024, will the rest of Europe follow suit?”
The publication speaks to Georg Wurth, the head of the German Hemp Association [Deutsche Hanfverband] in Berlin, to assess the likely pitfalls and potential of the move and the likely knock-on effects.
Wurth said: “It will have a huge ‘ripple’ effect, in fact it is already. It’s sending shockwaves around the globe, to have a German government which says we want to legalize cannabis.
“Because everybody knows the EU traditionally does not want to have a member state that says we want to legalize cannabis. It’s not really clear what the treaties say, what the law says. Some experts say it’s possible, some say it’s not possible, at the end, it will be more a political question.”